Personal Statement

Donny Arsal

Being ambitiously interested in the financial strategic plan and the economic
growth of Indonesia’s state-owned companies, I started my role in the top management
level as Assistant Vice President PT Mandiri Sekuritas (2003), Associate Director PT
Mandiri Sekuritas (2004-2010), and Director-Head of Investment Banking PT Mandiri
Sekuritas (2010-2017). I am now serving PT Jasa Marga (Persero) Tbk as the Director
of Finance since March 2017 up to the present time, highly experienced in leading
financial strategies to facilitate Jasa Marga’s ambitious growth plans while going
through critical decision-making processes in the company in a dynamic growing
ecosystem. Jasa Marga is a State-Owned Enterprise in Indonesia, engaged in providing
toll road services. Jasa Marga is the first toll road company in Indonesia and is the
leader in managing 1.041 km which represents a 64% market share in terms of
operated toll roads lengths (km). The transport and infrastructure industry’s
development is headed towards the future’s complexity of business transformation,
hence concluding the necessity to broaden the horizon of my personal skills and
experiences. These aspects are prospected to significantly progress through applying to
the Executive Master of Business Administration program at IPMI International Business
School.
The experience in Jasa Marga brought a momentous challenge to acquire
innovative sources of funds in order to finance Jasa Marga’s expansion that would need
a grand amount of investment while sustaining profitability in the midst of company
expansion especially for the feasibility of toll road developments all over the country.
Through a financial strategic plan, I earned the Best Overall CFO in CFO BUMN Award
2019 for several initiations, and one of them was by toll road income securitization that
was performed for the first time in Indonesia.
Within my leadership period, Jasa Marga also received the 2018 IFR Asia
Awards for the Indonesia Best Capital Markets Deal category. This award was given
because Jasa Marga's funding scheme, namely Komodo Bond, was considered
successful in attracting investment to support infrastructure development in Indonesia,
especially toll roads. Komodo Bond is one of the five breakthrough funding schemes
undertaken by Jasa Marga. Jasa Marga made an initial global offering on Komodo Bond
on 30 November 2017, which succeeded in issuing the first rupiah global bond with a
value of 4 (Four) Billion Indonesian Rupiah. Komodo Bond is considered to create a
new asset class for global investors and a new way of channeling funds in Asian
infrastructure.
 All through the years, I have managed to be highly skilled in the planning and
managerial scheme of all large scale financial functions of the corporation. Managerial
experiences begin with the designing phase of departmental budgets and oversee
accounting integration within the organization, along with creating and establishing
financial policies, procedures, programs and best practices for the company’s climate
based on their pre-existing conditions. Determining accounting and financial
management framework is also a part of the critical steps to monitor and enhance
reporting performance to finally analyze and recommend operational and strategic
direction based on modeling and forecasting. Most importantly in every starting of
programs, I manage to set goals, business metrics, and standards, comparing analyzed
results to ensure departments meet their milestones, and thoroughly lead teams to
identify weaknesses and potential areas of improvements through efficiency studies in
the company.
Throughout my experiences, I have learned that strong knowledge and the right
framework plays a really important role that affects the outcome of the decisions I’ve
made. Those experiences are also the ones that have taught me that there is still so
much more to learn and explore. In the efforts on learning more, I have gone through
several MBA curriculums and fields that might have suited my needs and can be
applied to further enhance knowledge. I find that the program presented by IPMI using
Harvard methodology based on case studies and updated, practical, and applicable
courses are the way to go and the one that will suit my needs. I hope that IPMI and I will
be a great fit, in which I can learn more and might even contribute more through my
experiences.